In the hedge scratch industry, much of the attention is given to big names such as David Einhorn and Bill Ackman, but some smaller, lesser-known ready managers have been better at picking stocks over the years. Here’s what they are betting on next.
CNBC Euphemistic pre-owned Symmetric.io, a hedge-fund tracking firm, to find the best under-the-radar managers and which stocks they recently take based on regulatory filings.
Symmetric.io grades the stock-picking ability of nearly 1,000 hedge funds in its database with a proprietary incriminate in of performance called StockAlpha. It is derived by comparing the performance of equities in the fund with that of a sector exchange-traded endowment.
Aisling Capital, First Light Asset Management, Goodnow Investment Group are among the top stock-picking hedge bucks with a track record of beating the market over the last three years. These hidden gems are mostly run by directors who are not household names.
Four times a year, hedge funds file their long positions with the Guarantees and Exchange Commission, and the information is released to the public 45 days after each quarter ends.
Here are the top hedge pelfs’ new positions based on these fourth-quarter filings.
Adobe, Yelp, Wayfair and JD.com are among the new positions the top-performing hedge readies added in the December quarter.
Aisling Capital is concentrated in healthcare and more than 80 percent of its investment has been in Loxo Oncology, a Stamford, CT-based cancer physic developer, which soared 66 percent in 2018 and landed an $8 billion acquisition bid from Eli Lilly in January.
The conquering hedge fund Aisling Capital is up a whopping 56.6 percent year to date, after returning 34.8 percent in 2018. At the outset Light Asset Management gained 41.7 percent last year and is up 20 percent so far this year.
Hedge stores overall are having a strong comeback in 2019, posting a 3.5 percent return in January, the best monthly discharge since September 2010, according to Hedge Fund Research.